Sept. 26 (Bloomberg) -- Impala Platinum Holdings Ltd. paid
former Chief Executive Officer David Brown 28 percent more in
his last three months at the world’s second-biggest producer of
the metal than in the entire preceding financial year.

Brown, who stepped down as CEO at the end of June last
year, remained a director of Impala for a further three months
during which he was paid 16.8 million rand ($1.7 million) in
salary, benefits and bonuses, the Johannesburg-based company
said in its annual report posted on its website. Brown was paid
13.1 million rand during his last full year as CEO.

“Brown received a final consideration in accordance with
his separation and restraint of trade agreements,” said the
report, released today. “The payment included a performance
incentive” for the previous financial year.

Brown announced his resignation in January last year, two
days before the start of a six-week strike that halted Impala’s
Rustenburg operations, the world’s largest platinum mine.
Discontent spread in the industry that’s mainly located in South
Africa’s North West province, culminating in the deaths of at
least 44 people, including 34 killed by police in a single day
near a Lonmin Plc mine in the worst mining violence since the
end of apartheid in 1994 as falling prices cut profit.

Impala’s profit fell 52 percent in the year ended June
after it wrote down assets by 2.3 billion rand and costs rose by
more than inflation, it said last month.

Brown’s successor, Terence Goodlace, was paid 7.5 million
rand in salary and benefits, the report said.

Goodlace elected not to take an increase or participate in
incentive plans, according to the annual report.